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Wednesday, June 10, 2009

WSJ- "Boom Town"

The Wall Street Journal notes that the recession isn't hitting Washington, D.C. quite as hard as the rest of the country:

With unemployment for all government workers about half the private sector's rate, the Beltway has been spared the tightening elsewhere. The federal government is the second largest job sector in the area, making up 11.6% of jobs, while state and local government workers add another 10.4%. According to a February survey by the Greater Washington Initiative, Washington area business executives were also "significantly more positive" about their own companies and the region's prospects than about the national economy. Translation: It's good to be close to Uncle Sam when stimulus funds start flying.

I'm glad our nation's capital is feeling so, what's the word, stimulated. I jsut wish it didn't come at the cost of our fiscal stability and long-term solvency.

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